Translation of financial statements A U.-based MNC has a subsidiary in France (local currency, euro, ;). The balance sheet and income statement of...

Translation of financial statements A U.S.-based MNC has a subsidiary in France(local currency, euro, ;). The balance sheet and income statement of the subsidiaryfollow. On 12/31/09, the exchange rate is US$1.20/;. Assume that the local (euro)figures for the statements remain the same on 12/31/10. Calculate the U.S. dollartranslatedfigures for the two ending time periods, assuming that between 12/31/09and 12/31/10 the euro has appreciated against the U.S. dollar by 6%.